How we're different
We are not like other banks - profit for purpose is our business model and we are 100% owned by members
How we're different
Our bank is a force for good where social responsibility drives everything we do - our business practices, our people, and our products. It is built in, not bolted on. We are:
- A Certified B Corporation
- A world-leading socially responsible bank
- Owned by our members
- For the essential worker community
- Strong, secure, profitable and growing
We put our members first
At Teachers Mutual Bank Limited we’re owned by members for the benefit of members. What our members want aligns with what we deliver. It’s a mutually beneficial relationship.
Instead of profits being distributed to institutional shareholders and investors via dividends, a part of our profits are re-invested back into the Bank to benefit all members and the communities they support.
We're consistently recognised as one of Australia's top financial institutions in customer satisfaction rankings, showing the success of our model.
While we’re a different bank, we’re still a bank
We’re strong, secure and profitable with a growing asset and membership base.
Teachers Mutual Bank Limited is an Authorised Deposit-Taking Institution, regulated by the Banking Act 1959. We meet the same prudential standards as all other banks and the $250,000 government guarantee on deposits also applies to us.
It also means we're supervised by the banking regulator Australian Prudential Regulation Authority (APRA) and meet or exceed the relevant capital and regulatory requirements.
Further to this, as a mutual bank we abide by the Customer Owned Banking Code of Practice.
We’re growing, while staying true to our roots
We’ve been providing our members with quality banking products and services with social responsibility at heart for more than 50 years. Along the way, we’ve become one of Australia’s largest mutual banks.
We care about the world and the people in it
We aim to be the most socially responsible bank in Australia.
We use technology to provide better services
We want our members to be able to bank with us wherever, however and whenever they want. That means that we will keep branches where our members need them most and maintain a wholly Australian call-centre with friendly, experienced staff.
It also means we will continually invest in our digital and mobile presence. Our members were among the first in Australia to transfer money to other banks in near real-time via the New Payments Platform as well as make mobile payments via Apple Pay, Samsung Pay and Google Pay.